Steil on deficit forecast: 'Washington has a spending problem'
U.S. Rep. Bryan Steil, R-Wis., a statement following the nonpartisan Congressional Budget Office's report on the economic forecast for the next 10 years.
The CBO today increased its projections for this year's federal deficit by $63 billion and increased its forecast for deficits over the next decade by $809 billion. Deficits exceeding $1 trillion will kick in beginning next year and will average about $1.2 trillion annually over the coming decade.
“Washington has a spending problem," Steil said. "The CBO’s economic projection for the next decade outlines the need to rein in federal spending. Our broken budget process results in expensive funding bills with no plan to pay for them.
"The spending bill that I opposed will add $300 billion to the deficit. This practice has gone on far too long. I continue to work with my colleagues to improve our budget process and bring fiscal responsibility back to Congress.”
In July, Steil voted against the Bipartisan Budget Act of 2019 which increases the deficit by $320 billion and adds $1.7 trillion to the cumulative deficit over the next ten years. The national debt is approaching $23 trillion.